March 27, 2015
Old Convention Center To Be Turned Into Mixed-Use Project
Nashville Mayor Karl Dean made a major announcement Friday morning regarding the future of the old Nashville Convention Center.
The mayor, along with developers Spectrum | Emery and Oliver McMillan, announced to a packed crowd at the Renaissance Hotel in downtown Nashville, that they are moving forward with the plan to redevelop the convention center into a 205,000 square foot mixed-use project.
The project will include retail, restaurant and entertainment space, as well as the National Museum of African American Music.
The project will also include office space and a 27-story residential tower.
“All-in-all, this will be what downtown as a whole has become – a place where people can live, work and play,” said Dean.
The $400 million, 6.2 acre development at the corner of Fifth Avenue and Broadway will also include a public parking garage.
Developers Spectrum | Emery and Oliver McMillan will pay Metro $5 million in cash for the property at closing once they have secured full financing for their project.
Metro will put that money into the Barnes Fund for Affordable Housing.
The deal is subject to Metro Council approval. The first reading is scheduled for April 7.
Link to original article here.